Unique industrial site offered for sale: Jones Lang LaSalle

2011-06-22T05:00:00Z

BRISBANE, June 22, 2011 – An exceptional and unique industrial property in Brisbane has been announced for sale to the market – a 7.9ha general industry site that offers scale, substantial underlying value and an exceptional lease covenant, as well as being home to the extremely rare combination of standard and narrow gauge rail sidings on site.

Jones Lang LaSalle’s Aaron Bates and Michael Fenton have been appointed as selling agents for 60 Gay Street in Coopers Plains.

Mr Bates said, “The sale stands as one of Brisbane’s most exciting and compelling investment opportunities.

“60 Gay Street presents the rare opportunity to acquire a large, freehold Brisbane site with a combination of standard and narrow gauge rail sidings. The long haul efficiencies offered by rail freight are expected to decrease Australia’s dependence on road transport in the long term, which will add significant value to the limited number of Brisbane sites with direct access to standard gauge rail,” he said.

Australian Head of Industrial at Jones Lang LaSalle, Michael Fenton said, “The site is securely leased to Bluescope Steel (AIS) Pty Limited, one of Australia’s most recognised industrial companies, until January 31, 2028. This lease represents a net income of approximately $1,906,239.95pa – such a lease is unable to be matched in Brisbane.

“In short, 60 Gay Street ticks every box. A blue chip tenant, a strong, long term lease and a strategic underlying landholding,” said Mr Fenton.

The site itself - which commands an absolute prime Acacia Ridge location only 14 kilometres south of the Brisbane CBD - features a warehouse of 11,712sqm, a workshop of 884sqm, administrative offices of 1,112sqm, for a total of 13,608sqm.